High pressure die casting market analysis
High pressure die casting market analysis
The high pressure die casting market size is expected to be $38.66 billion in 2024 and is expected to reach $52.14 billion by 2029, with a CAGR of 6.16% during the forecast period (2024-2029).
- Due to global supply chain disruptions and trade restrictions, COVID-19 has had a significant impact on manufacturing operations and the market has slowed. However, with the recovery of economic activity around the world, the global market is expected to develop steadily over the forecast period.
- In the long run, it is expected that the automotive market will continue to expand, the penetration rate of die casting in automotive parts and industrial machinery will continue to increase, the construction industry will continue to develop, and the use of aluminum die casting in the automotive, electrical and electronics industries will also increase to drive the market.
- Die casting has proven to be the most viable option for producing these engine castings, offering higher yields and great flexibility in component design. As new die-casting machine designs are developed and mold manufacturing processes change, this method may become more attractive. Die-casting machines have always adopted advanced mold design and utilized simulation technology and dynamic ventilation systems. These techniques are combined with thermal analysis of die castings to produce clutch pistons that meet the specific problems of piston use and assembly.
- In addition, the growing preference for aluminum products and the continuing trend of increasing aluminum usage are expected to drive the significant growth of the market.
- For example, April 2022: Ford Motor Company opens the ARBOMEX plant in Apaseo elGrande, Mexico, and receives the prestigious Q1 designation. ARBOMEX produces balance shafts for the 1.5-liter 12V DOHC L3 Dragon engine at the Ford Chihuahua Engine Plant, which is used in the Hermosillo assembled Bronco Sport, Escape crossover and other models. In addition to being a preferred supplier to Ford, ARBOMEX also supplies iron, steel and aluminum components to other original equipment manufacturers (Oems) such as Stellantis and Mazda.
- In addition, Corporate Average Fuel Efficiency undefined(CAFE) regulations and Environmental Protection Agency (EPA) initiatives to reduce vehicle emissions and improve fuel efficiency are prompting automakers to use lightweight non-ferrous metals to reduce vehicle weight. Therefore, the use of high pressure die casting is likely to boost the growth of the market during the forecast period.
- Due to the growing automotive demand in China and India, the growth in technological advancement and innovation, and the increasing use of aluminum die casting in various applications in the region, the Asia-Pacific region is expected to dominate the high pressure die casting market and further expand the market. Due to the growth in light vehicle production, North America is also expected to play a key role in the growth of the high pressure die casting market
